Spinnaker Trust Sells 202 Shares of Illinois Tool Works Inc. (NYSE:ITW)

Spinnaker Trust lowered its position in Illinois Tool Works Inc. (NYSE:ITWFree Report) by 4.5% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,279 shares of the industrial products company’s stock after selling 202 shares during the period. Spinnaker Trust’s holdings in Illinois Tool Works were worth $985,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the company. Cibc World Market Inc. lifted its position in Illinois Tool Works by 3.7% during the first quarter. Cibc World Market Inc. now owns 9,666 shares of the industrial products company’s stock valued at $2,024,000 after purchasing an additional 348 shares in the last quarter. Cetera Investment Advisers lifted its position in Illinois Tool Works by 4.2% during the first quarter. Cetera Investment Advisers now owns 9,070 shares of the industrial products company’s stock valued at $1,899,000 after purchasing an additional 368 shares in the last quarter. Sequoia Financial Advisors LLC lifted its position in Illinois Tool Works by 54.7% during the first quarter. Sequoia Financial Advisors LLC now owns 2,859 shares of the industrial products company’s stock valued at $599,000 after purchasing an additional 1,011 shares in the last quarter. Zions Bancorporation N.A. lifted its position in Illinois Tool Works by 9.9% during the first quarter. Zions Bancorporation N.A. now owns 2,407 shares of the industrial products company’s stock valued at $504,000 after purchasing an additional 217 shares in the last quarter. Finally, Covestor Ltd lifted its position in Illinois Tool Works by 70.7% during the first quarter. Covestor Ltd now owns 746 shares of the industrial products company’s stock valued at $156,000 after purchasing an additional 309 shares in the last quarter. Institutional investors own 79.56% of the company’s stock.

Illinois Tool Works Trading Up 0.2 %

Shares of NYSE ITW opened at $256.06 on Monday. The business’s 50 day moving average is $255.44 and its two-hundred day moving average is $244.15. The company has a debt-to-equity ratio of 2.10, a current ratio of 1.33 and a quick ratio of 0.97. Illinois Tool Works Inc. has a 1-year low of $217.06 and a 1-year high of $267.12. The stock has a market capitalization of $77.05 billion, a P/E ratio of 26.29, a PEG ratio of 4.90 and a beta of 1.15.

Illinois Tool Works (NYSE:ITWGet Free Report) last released its earnings results on Thursday, February 1st. The industrial products company reported $2.42 EPS for the quarter, beating analysts’ consensus estimates of $2.41 by $0.01. The firm had revenue of $3.98 billion for the quarter, compared to analysts’ expectations of $4.01 billion. Illinois Tool Works had a return on equity of 96.60% and a net margin of 18.36%. The company’s quarterly revenue was up .3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.34 earnings per share. As a group, research analysts expect that Illinois Tool Works Inc. will post 10.07 EPS for the current year.

Analyst Upgrades and Downgrades

ITW has been the topic of several analyst reports. Bank of America downgraded Illinois Tool Works from a “neutral” rating to an “underperform” rating and lowered their target price for the company from $260.00 to $235.00 in a research report on Wednesday, January 10th. Stifel Nicolaus boosted their price objective on Illinois Tool Works from $238.00 to $239.00 and gave the company a “hold” rating in a research report on Tuesday, January 23rd. Citigroup boosted their price objective on Illinois Tool Works from $244.00 to $256.00 and gave the company a “neutral” rating in a research report on Monday, December 11th. Barclays boosted their price objective on Illinois Tool Works from $215.00 to $224.00 and gave the company an “underweight” rating in a research report on Monday. Finally, JPMorgan Chase & Co. lowered their price objective on Illinois Tool Works from $265.00 to $255.00 and set an “overweight” rating on the stock in a research report on Monday, October 16th. Four investment analysts have rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, Illinois Tool Works presently has a consensus rating of “Hold” and an average price target of $243.60.

View Our Latest Analysis on Illinois Tool Works

Illinois Tool Works Company Profile

(Free Report)

Illinois Tool Works Inc manufactures and sells industrial products and equipment worldwide. It operates through seven segments: Automotive OEM; Food Equipment; Test & Measurement and Electronics; Welding; Polymers & Fluids; Construction Products; and Specialty Products. The Automotive OEM segment offers plastic and metal components, fasteners, and assemblies for automobiles, light trucks, and other industrial uses.

See Also

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Institutional Ownership by Quarter for Illinois Tool Works (NYSE:ITW)

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